Sharjah: A general budget of Dh22.1 billion for Sharjah was approved on Sunday by His Highness Dr Shaikh Sultan Bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah.
Expenditure allocations have been increased by 6 per cent in 2018 to meet the requirements of government departments.
The economic development sector has been allocated 44 per cent of the total budget outlay of 2018, an increase of 7 per cent from 2017 that reflects the government’s keen interest to develop the emirate’s economic environment, attract investors and boost economic growth.
Allocations for the infrastructure sector accounted for 24 per cent of the budget, an increase of 3 per cent compared to the previous year.
The social development sector constituted around 23 per cent of the 2018 budget, rising by 6 per cent from 2017, and the government administration, security and safety sector received a 9 per cent allocation.
Salaries and wages accounted for 36 per cent of the operating budget, while operating expenses accounted for 59 per cent and capital expenditures 5 per cent. In general, the operating budget recorded a growth of 7 per cent in 2018 compared to 2017.
On the revenue front, operating revenues of different government department’s account for 76 per cent of the emirate’s total revenue base expected for 2018, a growth of 8 per cent from 2017.
Capital income represents around 14 per cent of expected revenue for 2018, customs at 7 per cent, tax revenue at 1 per cent, while the oil and gas sector stood at 2 per cent, a 100 per cent increase from 2017.
Meanwhile, the budget for support and assistance constituted around 6 per cent of the general budget, and allocations for the repayment of loans and interest remained the same at 4 per cent in order to bolster the government’s financial strength and capabilities to settle all its obligations.